Empirical Financial Services LLC Reduces Stake in Costco Wholesale Corporation (COST)
Empirical Financial Services LLC trimmed its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,243 shares of the retailer’s stock after selling 422 shares during the quarter. Empirical Financial Services LLC’s holdings in Costco Wholesale Corporation were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in COST. Delta Asset Management LLC TN raised its position in shares of Costco Wholesale Corporation by 11.6% during the 2nd quarter. Delta Asset Management LLC TN now owns 627 shares of the retailer’s stock worth $100,000 after purchasing an additional 65 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Costco Wholesale Corporation in the 2nd quarter valued at approximately $107,000. Mercer Capital Advisers Inc. increased its position in Costco Wholesale Corporation by 3.5% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 687 shares of the retailer’s stock valued at $110,000 after acquiring an additional 23 shares during the period. Mosaic Family Wealth LLC increased its position in Costco Wholesale Corporation by 16.7% in the 1st quarter. Mosaic Family Wealth LLC now owns 700 shares of the retailer’s stock valued at $117,000 after acquiring an additional 100 shares during the period. Finally, Ledyard National Bank increased its position in Costco Wholesale Corporation by 19.1% in the 2nd quarter. Ledyard National Bank now owns 810 shares of the retailer’s stock valued at $130,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 72.57% of the company’s stock.
COST has been the topic of several analyst reports. TheStreet upgraded Costco Wholesale Corporation from a “c” rating to a “b” rating in a research report on Monday, October 9th. Cowen and Company set a $180.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. Vetr upgraded Costco Wholesale Corporation from a “hold” rating to a “buy” rating and set a $168.75 target price on the stock in a research report on Tuesday, July 11th. Robert W. Baird set a $200.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Stifel Nicolaus set a $173.00 target price on Costco Wholesale Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Twelve analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $178.34.
Shares of Costco Wholesale Corporation (COST) opened at $165.05 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. Costco Wholesale Corporation has a 1-year low of $142.11 and a 1-year high of $183.18. The stock has a market capitalization of $72,732.55, a price-to-earnings ratio of 28.60, a P/E/G ratio of 2.66 and a beta of 0.93.
Costco Wholesale Corporation (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 5th. The retailer reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a return on equity of 22.21% and a net margin of 2.08%. The business had revenue of $42.30 billion during the quarter, compared to analyst estimates of $41.55 billion. During the same period last year, the company earned $1.77 earnings per share. Costco Wholesale Corporation’s quarterly revenue was up 15.7% compared to the same quarter last year. analysts predict that Costco Wholesale Corporation will post 6.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Costco Wholesale Corporation’s dividend payout ratio is 32.89%.
In other Costco Wholesale Corporation news, VP Dennis R. Zook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $161.92, for a total transaction of $809,600.00. Following the transaction, the vice president now directly owns 626 shares in the company, valued at $101,361.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John W. Meisenbach sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the transaction, the director now owns 6,974 shares in the company, valued at $1,150,152.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,350 shares of company stock valued at $2,477,680. 0.74% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/empirical-financial-services-llc-reduces-stake-in-costco-wholesale-corporation-cost/1684475.html.
Costco Wholesale Corporation Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.